Amazon to Acquire Rocket Internet’s Fashion e-Tailer Jabong in a 1.2B Deal-Reports


amazonAccording to reports is set to acquire Rocket Internet’s fashion e-tailer Jabong, based in India for $1.2 billion deal.

The deal will be biggest acquisition in the Indian e-commerce history according to India’s VCCircle.

The reports indicate that Amazon will not shut down Jabong but run it as an independent entity. Jabong is backed by both Rocket Internet, Swedish investment firm Kinnevik and UK’s CDC.

Amazon India’s competitor Flipkart acquired Myntra, Jabong will make Amazon in the country compete on a favourable stand and even drive sales this festive season like never before. Flipkart, founded by ex-Amazon employees has given Amazon a run for its money, this is more of a counter move for Amazon to up its fashion line.